Automotive LiDAR Market Trends, Growth Factors, Opportunities and Regional Outlook 2024-2032 by Delphi Automotive PLC, DENSO Corporation, First Sensor AG

The Automotive LiDAR Market is Valued USD 561.3 Million in 2022 and projected to reach USD 2,959.8 Million by 2030, growing at a CAGR of CAGR of 23.1% During the Forecast period of 2024-2032. The widespread adoption of Automotive LiDAR contributes to an ecosystem where vehicle autonomy is feasible, safer, and more efficient. LiDAR sensors provide a complementary layer of perception alongside other sensor technologies, such as cameras and radar, creating a comprehensive and redundant system for autonomous vehicles. This technology not only benefits the automotive industry by advancing the capabilities of self-driving cars but also contributes to the broader ecosystem of smart cities and transportation infrastructure. Ultimately, the integration of Automotive LiDAR enhances overall road safety, reduces accidents, and facilitates the evolution toward a more connected and autonomous automotive landscape.

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The rapid evolution of autonomous vehicle technologies is a significant driver for the global Automotive LiDAR market. As automotive manufacturers strive to develop and deploy self-driving vehicles, LiDAR technology plays a pivotal role in enhancing perception and navigation capabilities. LiDAR systems provide a three-dimensional, high-resolution mapping of the surrounding environment, allowing vehicles to make real-time decisions based on accurate and detailed data.

The demand for more sophisticated and reliable sensors, such as LiDAR, arises from the critical need for autonomous vehicles to navigate safely in complex and dynamic environments. Traditional sensors like cameras and radar have limitations in certain scenarios, such as low visibility conditions. LiDAR overcomes these limitations by emitting laser pulses and measuring the time taken for the light to reflect back, enabling precise distance and depth perception. As autonomous vehicle development accelerates, the demand for advanced LiDAR solutions is expected to grow, creating a positive impact on the Automotive LiDAR market.

Profitable players of the Automotive LiDAR market are: Continental AG, Delphi Automotive PLC, DENSO Corporation, First Sensor AG, HELLA GmbH & Co. KGaA, Ibeo Automotive Systems GmbH, Innoviz Technologies Ltd., LeddarTech Inc., Luminar Technologies Inc., NXP Semiconductors, Quanergy Systems Inc., Robert Bosch GmbH, TetraVue, Valeo SA, Velodyne LIDAR Inc., XenomatiX N.V., and Others.

Major Segmentations Are Distributed as follows:

By Technology
Solid-state LiDAR
Mechanical/Scanning LiDAR

By Image Projection
2D Automotive LiDAR
3D Automotive LiDAR

By Range Type
Short & Mid-range Automotive LiDAR
Long-range Automotive LiDAR

By Application
Robotic Vehicles
ADAS

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Essential regions of the Automotive LiDAR market are:

• Automotive LiDAR North America Market includes (Canada, Mexico, USA)
• Automotive LiDAR Europe Market includes (Germany, France, Great Britain, Italy, Spain, Russia)
• Automotive LiDAR Asia-Pacific Market includes (China, Japan, India, South Korea, Australia)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa)
• Automotive LiDAR South America Market includes (Brazil, Argentina)

Recent Developments

In April 2023, Cepton, Inc. launched Komodo, its exclusive ASIC (Application-Specific Integrated Circuit) chip for lidar point cloud processing. Komodo is a highly integrated custom SoC (System on Chip) designed to optimize the company's patented lidar architecture, enhancing the quality of point cloud data while reducing costs by replacing multiple off-the-shelf silicon devices. To facilitate the widespread adoption of lidar technology in future vehicles, Cepton, Inc. leverages dedicated ASICs as their lidar products move towards extensive deployment, enabling them to achieve the necessary price points desired by automotive OEMs for mass-market implementation.

In January 2022, Luminar Technologies, Inc. partnered with Mercedes-Benz Group AG. With this partnership, Mercedes plans to integrate Luminar's Iris LiDAR into its upcoming vehicles based on the next-generation platform. This integration aims to enhance safety features and enable autonomous highway driving capabilities. As part of the partnership, Mercedes-Benz has also acquired 1.5 million shares of Luminar. This alliance with Mercedes-Benz follows Luminar's previous supply agreements with notable companies such as Volvo Cars, China's SAIC, and Daimler Trucks, all of whom recognize LiDAR as a critical technology for developing autonomous vehicles.

What's more, it likewise covers the request and give of the promoting research concentrate in the assessed figure time frame. Explained investigation of the market players with their profile, deals examination and serious scene is given in the report. Besides, organization, joint effort and consolidations in the business are referenced for the accommodation of the investigation of the global Automotive LiDAR industry.

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Pivotal questions answered in the global Automotive LiDAR market report:

• What are the major value propositions of the Automotive LiDAR market?
• What are the new strategical frameworks that are mobilized among players to accomplish resilience in the wake of the COVID-19 pandemic?
• What technologies are expected to adopt the new regulations in Automotive LiDAR report?
• What are the key collaborations generated by the vendors to consolidate their position in the Automotive LiDAR market?
• What are the vital offerings new entrants concentrate on to implement unique positioning strategies?
• What are the futuristic prospects of the Automotive LiDAR market across the globe?

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